Ventas (VTR) FY2012 results: revenue $2.5 billion, up 42.6% on the year
Ventas, Inc. (VTR) reported revenue of $2.5 billion for fiscal 2012, the year ended 31 December 2012, up 42.6% on the year before. Net income was $363 million, down 0.5%, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2013.
Revenue
$2.5 billion
+42.6% on the year
FY2007FY2012
Operating margin
11.5%
19.1% a year earlier
FY2007FY2012
Net income
$363 million
-0.5% on the year
FY2007FY2012
Diluted EPS
$1.23
-22.2% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
2,470
1,732
1,001
+42.6%
Operating income
283
330
223
-14.3%
Operating margin
11.5%
19.1%
22.3%
Interest expense
289
224
172
+29.0%
Pre-tax income
283
330
223
-14.3%
Income tax
-6.3
-30.7
5.2
Effective tax rate
-2.2%
-9.3%
2.3%
Net income
363
364
246
-0.5%
Net margin
14.7%
21.0%
24.6%
Diluted EPS
$1.23
$1.58
$1.56
-22.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
993
773
448
+28.4%
Capital expenditure
69.4
50.5
18.2
+37.6%
Free cash flow
923
723
429
+27.8%
Free cash flow margin
37.4%
41.7%
42.9%
Cash from investing
-2,170
-997
-302
Cash from financing
1,199
248
-231
+382.9%
Depreciation and amortisation
715
444
201
+61.0%
Share-based compensation
20.8
19.3
14.1
+7.4%
Dividends paid
729
521
336
+39.8%
Dividend per share
$2.48
$2.30
$2.14
+7.8%
Diluted shares, weighted
294m
231m
158m
+27.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
9,019
9,275
2,387
-2.8%
Non-controlling interest
70.2
81.0
3.5
-13.3%
Redeemable equity
175
103
n/a
+69.7%
Debt
8,414
6,429
2,900
+30.9%
Other liabilities
1,302
1,384
468
-5.9%
Total liabilities and equity
18,980
17,272
5,758
+9.9%
Goodwill
490
448
19.9
+9.4%
Intangible assets
n/a
n/a
79.6
Securities held for sale or to maturity
5.4
43.3
66.7
-87.5%
Cash and equivalents
67.9
45.8
21.8
+48.2%
Other assets
18,416
16,734
5,570
+10.1%
Total assets
18,980
17,272
5,758
+9.9%
10-K for the year ended 31 December 2012, filed 19 February 2013: the filing.